cryptocoin.com As we reported, after the recent declines, stern warnings about the dangers of investing in the sector came from Billy Markus, the founder of meme coin leader Dogecoin (DOGE)! Here are the details…
Dogecoin founder Billy Markus explained: “Investing in the crypto world is getting dangerous day by day and at the level of mental illness!”
Billy Markus, founder of Dogecoin (DOGE), issued a stern warning about the dangers of investing in the industry. Markus described investing in digital assets as “literally investing in mental illness” in a series of tweets on April 22.
Investing in crypto is literally investing in mental illness, which I think is on the rise.
These words of Billy Markus about the crypto money market come with big losses after the 2021 bull market with big rises. As you know, the cryptocurrency market has been facing losses for a long time. Especially with the FTX and other stock market crashes in 2022, the banking crises in the beginning of 2023, the chaos in the crypto money market also causes the prices of cryptocurrencies to fall. Thus, many investors abandon the crypto world and resort to traditional investment methods.
According to some experts, such periods are seen as exactly the time to invest. As you may remember, investors who invested with the FTX collapse last year made great profits in the first month of 2023.
Billy Markus: “NFTs are on an even sicker level!”
Billy Markus also made harsh comments for immutable tokens (NFTs) in his comments, stating that “NFTs are a derivative of crypto, so it is even more insane.” Notably, NFTs had gained immense popularity in the crypto industry at one point and captivated the market with unprecedented sales. However, interest in NFTs has since dwindled.
Does this include NFTs?
— 20b (@rs20b) April 22, 2023
While reacting to the recent rise in the value of the PEPE meme coin, the DOGE founder has targeted those who claim that joking about the cryptocurrency is “preventing generations of wealth,” describing the concept as ‘disgusting’. DOGE founder quoted the following words:
I’m reacting to people who talk about it as if joking about it is “to prevent wealth from generation to generation”, which is disgusting. But because people are idiots guarding their bags like baby kids, they act like morons because their brains are hard to use and they make stupid comments like this
Billy Markus continues his negative view of the cryptocurrency market!
It should be noted that Markus has taken a pessimistic approach to cryptocurrencies in recent years. As you may recall, the Dogecoin creator announced in 2022 that he stopped investing in the cryptocurrency nine years ago, shortly after DOGE was launched. At the time, he stated that investing in crypto could be considered a form of gambling. Accordingly, Markus also targeted several digital currency projects focused on Binance Smart Chain (BSC), describing all BSC tokens as ‘garbage’.
